3510 W Elmore ST, Seattle, WA 98199
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3510 W Elmore ST, Seattle, WA 98199
3510 W Elmore ST, Seattle, WA 98199
3510 W Elmore ST, Seattle, WA 98199
3510 W Elmore ST, Seattle, WA 98199
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Elliott Franklin

Elliott Franklin

+1(206) 915-6350
Listed by:Lee & Associates Commercial RE • Dea Sumantri
$ 2,400,000
Est. payment /mo
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3510 W Elmore ST Seattle, WA 98199

13 Beds

8 Baths

6,960 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Magnolia

MLS Listing ID 2537323

Style 55 - 5-9 Units

Bedrooms 13

Year Built 1968

Annual Tax Amount $22,734

Lot Size 6,960 Sqft

Property Sub-Type Multi Family

Property Description

We are pleased to present Twin Cedars Apartments, an 8-unit apartment built in 1968 in Seattle's coveted Magnolia neighborhood, within steps of Discovery Park. The building offers 31BD averaging 732SF and 5 2BD averaging 967SF, with efficient floor plans. With 2BD units comprising 63% of the building, the unit mix is squarely aligned with the unit type that drives the strongest tenant demand and longest retention across Seattle's rental market. _of the 8 units have been updated with stone countertops and LVP flooring, delivering a modernized interior foundation. Roof replaced and cedar siding resided in 2020 keep the exterior in sound condition, and a newly improved bike storage room adds a practical amenity that current ownership has not yet monetized. Parking income similarly remains uncaptured, giving a new owner immediate, low-effort revenue opportunities from day one. Twin Cedars operates with discipline already in place. RUBS and pet rent keep utility costs off the owner's bottom line, and a stable, long-tenured tenant base reflects both the building's quality and the neighborhood's enduring appeal. With in-place rents close to market, the clearest path to income growth is the addition of in-unit laundry upon turnover. Comparable Magnolia buildings demonstrate rental premiums of 15% or more from this single upgrade, and combined with parking and bike storage activation, the income levers are identified, accessible, and ready for a new owner to execute.

Location

State WA

County King

Area 700 - Queen Anne/Magnolia

Interior

Flooring Vinyl Plank

Fireplace false

Exterior

Exterior Feature Wood

Amenities Available Deck

View Y/N Yes

View Territorial

Roof Type Composition,Flat,Torch Down

Building

Lot Description Alley, Dead End Street, Paved

Sewer Sewer Connected

Water Public

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Virtual Tour https://buildout.com/website/1646887-sale

Northwest MLS (NWMLS)
"Three Trees" icon indicates a listing provided courtesy of NWMLS.

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Elliott Franklin

Elliott Franklin

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+1(206) 915-6350

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3510 W Elmore ST